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How it Works

Insurance, whether a policy taken for your business vehicle or one that is designed to also cover your business property, equipment and stock (as well as employees and public interactions), is a financial protection to safeguard the future and wellbeing of your company. By making sure that you have the right policy to cover your business, and pay your monthly or annual premiums, you know that if an accident or incident occurs, you can claim to prevent having to pay large sums out of your own pocket. The first thing is to make sure you have the right policy that gives the level of coverage you need.


Getting the right policy for your business is really important to ensure that all potential risks are covered. There are some parts of an insurance policy that are legal requirements, such as road risk, and if you have employees, you will need employers’ liability. Some policies aren’t legally required but are strongly advised, such as public liability, if you have dealings with or operate in the public domain where there could be a risk to members of the public or their property. The policy you require will depend entirely on the unique requirements of your business and its operations, so the best way to discover the perfect insurance policy for your business is to contact our expert team to discuss your needs.

Yes, you can cancel your insurance policy at any point. Bear in mind, however, that business insurance is a commercial product, so the usual cooling-off periods don’t apply and there are cancellation fees. Some insurers will refund you for the unused portion of your premium, but it may not always be a pro-rata refund, so it’s important you know the terms of your policy. You should always contact us if you wish to cancel as just stopping the payments does not automatically cancel the insurance policy and this can lead to further charges. Each policy will have different terms, which you can discuss with our team at any point.

There are two main payment methods available for your motor insurance policy, you can pay monthly by direct debit or the entire premium as an upfront sum for the entire year. If you pay monthly, Prime Cover uses external credit providers and interest on the funded amount will apply.

Yes, extending your motor trade insurance policy is possible in a few different ways. The most common form of extending a motor trade insurance policy is renewing it at the end of its term. Most motor trade insurance policies are annual, and we will send you a renewal notice with terms and premiums laid out. If you agree, then the policy’s coverage will be extended for another term. Other extensions might include adding additional drivers for a short time, changing the cover temporarily to another vehicle or travelling abroad. Extending your policy might also mean increasing the coverage or its limits and this is usually possible by contacting us to request the additional coverage or increased limits and then accepting the adjusted premiums and terms.

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